Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

UK court rejects ‘politically motivated’ Turkish extradition request of businessman

John Zani, district judge at London’s Westminster Magistrates’ Court, declined Turkey’s request, expressing “serious reservations about the current state of the rule of law in Turkey.”

No secularism or democracy without religious freedom

The gentleman gently said: “However, dear Mr. Alpay, it was clear from the beginning that the AKP had a hidden agenda. But pundits like yourself conveyed a highly positive picture of the AKP government both at home and abroad. You have a responsibility in the situation we find ourselves today.”

Gülen’s lawyer files lawsuit over unlawful police probe into Hizmet

Nurullah Albayrak, lawyer for Islamic scholar Fethullah Gülen, has filed a lawsuit against a police chief who issued a written order to 30 provinces to launch a sweeping campaign into the faith-based Hizmet movement on what Albayrak says are trumped-up charges.

The Muslim Way to React

One book, one contest, one excitement… An interesting campaign was organized in India, in order to better understand the messages from Prophet Muhammad, the messages which transcend time and space. 80 thousand Muslims in India read the book ‘The Infinite Light’, written by Fethullah Gulen, and were tested over the book. Very well, but what was […]

Fethullah Gülen is a Chance for Humanity: His Inclusive Perspective for Sustainable Global Triangulation

The basic values that mark the twenty-first century are modernism, pluralism, individualism, and religion. Some claim that modernity embraces individual and social life as a whole, and that it has created new forms of religious, cultural, and political pluralism. There is no doubt that the world today is in need of dialogue between cultures and civilizations more than at any other time; this is of the utmost urgency.

Erzurum people call Minister Ala to apologize Gülen for his remarks

Gülen is highly respected both in Turkey and in many countries around the world for educational activities he has pioneered, along with his efforts to promote intercultural and interfaith activities around the globe. He is in self-imposed exile in the US, though there is no legal hurdle that prevents him from returning to Turkey.

Latest News

Fix Your MacBook Microphone Issues

Fixing MacBook Microphone Issues: A Comprehensive Guide

Essential Data Science and AI/ML Skills Suite

Essential Security Skills for Today’s Digital World

Sacramento leaders gather for Iftar dinner in celebration of Ramadan

Mastering DevOps Skills Suite: Streamline Your Workflow

Mastering E-Commerce Skills: Boost Your Retail Performance

SEO Skill Suite: Tools for Keyword Research, Technical & Backlink Analysis

E-commerce Tools for Optimal Product Management

In Case You Missed It

Erdogan is transforming Turkey into a totalitarian prison

Fethullah Gülen’s Message of Condemnation and Condolences for Sri Lanka Explosions

Nigeria Gives 7-Day Ultimatum to Turkish Government to Release Over 50 Nigerian Students Held in Detention

Egypt’s Turkish schools reject Akşam and A Haber TV reports

Religious communities under threat in Turkey

A Turkish couple spent their wedding day feeding 4,000 Syrian refugees

President Gül hosts Turkish Olympiad students in Ankara

Copyright 2026 Hizmet News